{"id":482425,"date":"2025-05-28T20:51:45","date_gmt":"2025-05-28T19:51:45","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=482425"},"modified":"2025-05-28T22:07:53","modified_gmt":"2025-05-28T21:07:53","slug":"jd-vance-declares-operation-chokepoint-2-0-dead-pledges-crypto-market-clarity","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/jd-vance-declares-operation-chokepoint-2-0-dead-pledges-crypto-market-clarity\/","title":{"rendered":"JD Vance declares &#8216;Operation Chokepoint 2.0&#8217; dead, pledges crypto market clarity"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">US Vice President <a href=\"https:\/\/cryptoslate.com\/people\/james-david-vance\/\">JD Vance<\/a> on May 28 said Operation Chokepoint 2.0 is &#8220;dead,&#8221; using his<\/span> <strong><a href=\"https:\/\/x.com\/BitcoinMagazine\/status\/1927751511494562242\">address at the 2025 Bitcoin Conference<\/a><\/strong><span style=\"font-weight: 400;\"> in Las Vegas to declare the end of federal regulatory actions that targeted the crypto sector and the beginning of legislative support for this industry.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Vance said the President <a href=\"https:\/\/cryptoslate.com\/people\/donald-trump\/\">Donald Trump<\/a> administration has ended what he described as the &#8220;weaponization of federal regulations&#8221; against digital assets and stated that such policies would not return. He added:<\/span><\/p>\n<blockquote><p><strong>&#8220;Let my words today serve as [Operation Chokepoint 2.0's] obituary. We reject the <a href=\"https:\/\/cryptoslate.com\/people\/joe-biden\/\">Biden<\/a> administration's legacy of death by a thousand enforcement actions.&#8221;<\/strong><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Operation Chokepoint 2.0 is a term used by crypto advocates to describe a pattern of actions by banking regulators allegedly aimed at limiting access between the crypto industry and the US banking system.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Vance highlighted that the Trump administration had removed <a href=\"https:\/\/cryptoslate.com\/people\/gary-gensler\/\">Gary Gensler<\/a> from the chair of the US Securities and Exchange Commission (SEC) and pledged to continue removing officials with similar enforcement strategies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He said:<\/span><\/p>\n<blockquote><p><strong>&#8220;We reject regulators, and we fired Gary Gensler. We're going to fire everybody like him.&#8221;<\/strong><\/p><\/blockquote>\n<h2><strong>&#8216;Operation Chokepoint 2.0' is dead<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">In the same speech, Vance called for a legislative approach to crypto policy, stating that the administration aims to secure the role of digital assets, particularly <a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">Bitcoin<\/a>, within the US financial system.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He said:<\/span><\/p>\n<blockquote><p><strong>&#8220;We want our fellow Americans to know that digital assets, and particularly Bitcoin, are part of the mainstream economy and are here to stay.&#8221;<\/strong><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Furthermore, Vance endorsed efforts in Congress to pass a<\/span> <strong><a href=\"https:\/\/cryptoslate.com\/stablecoin-crypto-market-structure-legislation-slated-for-approval-by-august-bo-hines\/\">comprehensive market structure bill<\/a><\/strong><span style=\"font-weight: 400;\"> for crypto and warned that failure to enact regulatory clarity would risk pushing the $3 trillion industry offshore.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He added that the best way to ensure that crypto is part of the mainstream economy is through legislation that propels the value represented by Bitcoin and other cryptocurrencies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Vice President also<\/span> <strong><a href=\"https:\/\/cryptoslate.com\/genius-act-clears-senate-motion-house-lawmakers-reintroduce-blockchain-certainty-act\/\">referenced the GENIUS Act<\/a><\/strong><span style=\"font-weight: 400;\">, saying the legislation aims to expand the use of dollar-pegged stablecoins and mandate transparency requirements.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He also argued that stablecoins do not threaten the US dollar's status but instead serve as a &#8220;force multiplier&#8221; to extend its global reach.<\/span><\/p>\n<h2><strong>Bitcoin adoption and economic framing<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Vance estimated that 50 million Americans already own Bitcoin and said that number could double in the near future. Additionally, he placed Bitcoin within the context of broader economic and political themes, framing its adoption as a hedge against different scenarios.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He stated:\u00a0<\/span><\/p>\n<blockquote><p><strong>&#8220;Crypto is a hedge against bad policymaking from Washington, no matter what party is in control. It is a hedge against skyrocketing inflation, which has eroded the real savings rate of Americans over the last four years.&#8221;<\/strong><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">He also criticized what he described as ideological discrimination in the private financial sector, suggesting that decentralized networks protect Americans from viewpoint-based restrictions on access to finance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The speech further solidified the Trump administration's shift toward pro-crypto policymaking, aligning federal executive priorities with a legislative agenda focused on stablecoin regulation, market structure clarity, and the integration of digital assets into the traditional financial system.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>US Vice President JD Vance on May 28 said Operation Chokepoint 2.0 is &#8220;dead,&#8221; using his address at the 2025 Bitcoin Conference in Las Vegas to declare the end of federal regulatory actions that targeted the crypto sector and the beginning of legislative support for this industry. Vance said the President Donald Trump administration has [&hellip;]<\/p>\n","protected":false},"author":1511,"featured_media":482450,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,107,77968,77644],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>JD Vance declares &#039;Operation Chokepoint 2.0&#039; dead, pledges crypto market clarity<\/title>\n<meta name=\"description\" content=\"During his speech at the 2025 Bitcoin Conference, the Vice President highlighted the importance of crypto-friendly legislation.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/jd-vance-declares-operation-chokepoint-2-0-dead-pledges-crypto-market-clarity\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JD Vance declares &#039;Operation Chokepoint 2.0&#039; 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